1. Introduction
  2. Credit payment history
  3. To view payment history
  4. Way payment history recorded
  5. Payment history with credit score
  6. Late payment hurt the score
  7. Make clean the payment history
  8. Conclusion


A good credit score results in straightforward loan and MasterCard approvals. If your credit score is 750 or higher, banks won’t hesitate to supply you with a loan at competitive rates. So, however, does one hit that mark? Ultimately, it all boils right down to creating timely payments. If your payment history is nice, you don’t need to worry a lot about obtaining any type of funding. However, a couple of lost payments will injure your credit score. Let’s break it down for you a small amount.

Credit payment history

In a shell, your payment history could be a record of all of your past and gift payments created to your lenders. It includes all the information concerning your on-time, late, and lost payments. This helps the loaner to measure you as a recipient. Your payment history plays a key role in determining your overall credit score. So, keep in mind that any unpaid bills replicate on your payment history, successively could affect your final score.

To view payment history

Your lenders can report your monthly payments to the most important credit bureaus, together with TransUnion Credit information Bureau (India) restricted or CIBIL Credit Rating information Services of India limited (CRISIL), and Equifax, to call a couple. What you would like to try and do is request a free copy of your credit report from any of those agencies. You will need to fill in forms to urge access to your report. It’s counselled that when you get the report, review it completely to check if there are any discrepancies. If there’s any inaccurate info recorded, you’ll be able to request a dispute type from the agency. However, to get on the safer aspect, request the shape within thirty days of obtaining your report.

Way payment history recorded

As mentioned earlier, your lenders can send an in-depth outline of your monthly payments to the credit bureaus. This may additionally embody your lost or late payments (if you have got any). Note that every agency includes a different approach to computing the credit score and also the final score could vary from bureau to bureau.

Payment history with credit score

Credit agencies use varied parameters when computing your score. This might embody your payment history, any unsettled debts, the timeline of your credit history, and account inquiries, to call a couple of. Your creditors can report any late payments or lost payments created to the bureaus. This may get recorded in your reimbursement history and might hurt your overall score for years. Also, if you have got been a serial defaulter, expect your score to get on the lower aspect. Credit bureaus take into account multiple factors before electing the ultimate score. So, even if you have got paid your bills on time, however, desecrated any of the opposite parameters, your final score should still take a success.

Late payment hurt the score

Your Credit info Report contains the small print of your account info, together with the standing of your account. You haven’t paid your outstanding MasterCard bills for over a hundred and eighty days, the loaner can write off the quantity and report constant to credit agencies. Also, you must remember your DPD or Days late. for example, if you haven’t paid your unsettled bills for over ninety days, your account is going to be classified as “Sub-Standard”, which can bring down your credit score quite a bit. If your account stays as “Sub-Standard” for twelve months or a lot, it’ll be classified as “Doubtful”. This will injure your score.

Make clean the payment history

Keep paying your dues on time to stay your payment history stain-free. You’ll be able to additionally set monthly reminders if that produces the work easier for you. It might happen that you simply forget the maturity date. In such cases, linguistic communication up for auto pay may go. Simply make sure that you have got comfortable funds within the account that’s coupled with the auto-pay facility. Try and keep a tab on your expenses. This may assist you to manage your debts during a higher approach.


Payment history is the record of borrowers’ payments on their credit accounts and alternative debts. because the most significant issue once hard a consumer’s credit score, payment history accounts for thirty-fifth of a FICO Score calculation and is treated as extraordinarily prestigious below the VantageScore model. A powerful payment history can’t guarantee a high credit score, however, it’s a necessary a part of building a healthy credit profile.

Whether you’re troubled to form on-time payments or simply lost track of a maturity date, creating late debt payments will hurt your credit score. To assist you to strengthen this necessary part of your credit profile, Forbes adviser shows you ways payment history impacts your score and what you’ll be able to do to boost it.